May 26, 2011

ES Bearish Structure

  • First chart is the line chart of FOUR Hour time frame. Which shows lower high's and Lower lows's being formed the structure clearly favors bears. Every major rise is being sold off.
  • One hour chart is suggesting a possible bounce if the Right Shoulder of an inverted head and shoulders gets confirmed. Price should sustain above 50 Hour moving average for price to move in favor of bulls.

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